President Trump Says U.S. Should Get Slice of TikTok Sale Price

  • by Staff@ TSD Network
  • August 4, 2020

The United States President Trump said he was ready to give approval for the purchase of the U.S. operations of the Chinese ByteDance-owned video-sharing app TikTok, but only if the government receives “a lot of money” in exchange.

Earlier, Redmond-headquartered Microsoft Corp. said it hopes to acquire TikTok’s U.S. business along with three other countries that included Canada, New Zealand, and Australia. But according to the report from WSJ, Donald Trump said he told the company’s chief executive, Satya Nadella, that “a very substantial portion of that price is going to have to come into the Treasury of the U.S. govt.

Mr. Trump Said;

“I said, ‘Look it can’t be controlled for security reasons by China. Here’s the deal, I don’t mind whether it’s Microsoft or somebody else — a big company, a secure company, a very American company buy it.”

“I did say that ‘If you buy it…a very substantial portion of that price is going to have to come into the Treasury of the United States because we’re making it possible for this deal to happen.’ Right now they don’t have any rights unless we give it to them.”

Interestingly, President Trump also indicated a deadline of Sept. 15, after which TikTok would be banned in the U.S. So now Microsoft may seems to move quickly to discuss all the terms with ByteDance and try to complete the negotiations by Sept. 15.

Meantime tech giant Microsoft said in a statement;

“Microsoft fully appreciates the importance of addressing the President’s concerns. It is committed to acquiring TikTok subject to a complete security review and providing proper economic benefits to the United States, including the United States Treasury.”

Recently, the US Secretary of State Mike Pompeo has also accused TikTok of collecting personal information of Americans. But before this statement, TikTok has already stressed that its US user data is stored on US-based servers and backed up in Singapore, which clearly states that it is not subject to Chinese law in anyways, as some US officials have feared.

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Staff@ TSD Network

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